Euro closes below $1.20
 

The GBP is down to $1.77

Is this the start of a new era?

((I))

C'mon Ira, you know the correct answer.
This is most definitely the start of a new era.
OR this may not be the start of new era.
Either way, some kind of change is possible. Maybe.

Oh for sure! This day will go down in history as the definitive pivotal point when all following fluctuations of these currencies started anew. Pop the champagne!

I'm rich! I'm rich!

Now this news bulletin from the Lutenblag Borse:
At the close of trading today, the Molvanian dinar made big gains against the euro. One trader exclaimed:
"Euro is girlie money!"

Definately the start of a new era. The US central bank raised the interest rate. It the era of increased cost of living. More than ofsetting the cost of European travel. Do you remember the early 80s when mortgage rates were about 20%?

Early 80's, huh? Isn't that when I started my IRA account with CD's earning 17.5% interest?

Yes, Patrick, i't also when the US Treasury issued 30 year bonds at 14%. One doesn't mature until November, 2011 and is currently selling at 113 plus. I also remember how difficult it was to get anyone to buy them because rates were going to go higher.

"And there was much rejoicing....yay" (insert litlle flags waving)

As far as I am concerned the REAL "new era" will begin when people stop asking if they should wait until 2 AM on a Wednesday to get a cheap airfare.

Well, while I'm assuming none of you have crystal balls into the future, do you think this will mean the pound will continue to drop/the dollar will continue to gain? I am just wondering because I have to live in Northern Ireland (have to sounds so negative-strike that and say get to, am privilege to, am estatic and overjoyed to be experiencing something for once in my life)for three months this fall.

What is your opinion on this? Or is it just a flat out crazy question since none of you are psychics?

Hi CC,

The exchange rate will be whatever the exchange rate will be when you are there.

RE high interest rates in the 80's: That was when I was borrowing money.

Now that I have a little something to invest, the rates are zilch.

((I))

CC- I doubt the exchange rate will improve much more than it has by the time you go, unfortunately. I think right now it's around $1.76 which is still a lot better than it was, so enjoy!